Just Hype bought by Birmingham investor in pre-pack deal
Leicester-based fashion brand Just Hype has been acquired out of administration.
The business, along with sister company Toatee Limited, has been jointly acquired by Lux360 and JHB2C Ltd after falling into administration last month.
All 82 jobs have been saved after the Birmingham investors stepped in to buy Just Hype in a pre-pack administration deal.
Just Hype was founded in 2011 and primarily specialised in streetwear clothing for children and young people. It sold directly to consumers online and from its sole retail location on London’s Carnaby Street. Its products were also stocked with some of the UK’s largest retailers, including Next, Sports Direct and John Lewis.
Quantuma chief executive Carl Jackson and director Kelly Mitchell were appointed as joint administrators on March 31, and sold the business and its assets shortly afterwards.
A Hype flagship store which opened in Carnaby Street, London in 2021, closed following the forfeiture of the lease prior to the involvement of the joint administrators.
Quantuma said: “The business was adversely affected by the Covid pandemic which was further compounded by the cost-of-living crisis. Just Hype has a globally-recognised brand presence, regularly collaborating with other established brands.
“However, the investment in marketing to raise profile did not translate into revenue, as a result of public reduction in spending on non-essential items.
“Our strategic accelerated sale process enabled us to protect the value in the brand and the established online platform, to improve realisation prospects. The absence of a break in supply of goods and services is also likely to ensure a more effective debt collection process to ensure realisations are maximised on behalf of creditors.”
Just Hype was launched in 2011 by Bav Samani and co-directors Liam Green and Vin Patel, selling clothes and accessories through its own website and other retailers’ sites and stores.
It has been involved in a number of high-profile collaborations including licensed clothing featuring The Simpsons, Coca-Cola, Star Wars, Jurassic Park and Disney.
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